Why switch Direct Debit provider for your business

9 reasons why you should consider switching your Direct Debit provider

When comparing Direct Debit providers it's clear to see that some offer more bells and whistles. Depending on your type of business some features will be more important than others. For example you might be looking for a cheaper solution or more support, but ultimately ease of payments for you and your customers should be top priority. 

If you're thinking of changing providers there are a number of things to consider, which we go into detail here:

1. You're paying too much in fees
Almost every business is currently looking at ways to cut costs without impacting on the customer experience, so when comparing prices, don’t forget to take a look at what you might pay not only for transaction charges but also new customer fees, batch payments, failed payments, etc. There can be cost savings by switching to a provider that charges based on transaction volumes alone (like PaySuite) rather than transaction volume and transaction value (like GoCardless). Other than price, you should take into other factors such as track record or reviews, stability and plan flexibility. Compare the features and price of the UK's top Direct Debit providers here.

2. Your payment processing platform doesn't integrate with your existing systems
It's no fun having too many systems and multiple logins to manage. You can save time and be more efficient by finding a payment provider with APIs that plug into your existing systems to make life a lot easier. From CRM systems, ERP or accountancy software they can all work together seamlessly. Learn more about our leading API here.

3. You're not getting enough customer service
Your business is a customer too – so you should be getting the support you need on a day-to-basis from your payment provider allowing your business to thrive. Consider elements such as client response rate if you have a query, speed of customer payment, frequency of payment runs, ease of management reports to protect cashflow and stay on top of Direct Debit payments. These things tend to vary a lot between various providers, for example at Access PaySuite we have a Client Services Phone Support where as other providers do not offer this.

4. You're not getting enough visibility & reporting
Real-time online reporting is key to understanding how your business is performing. Look for a provider that gives detailed reporting to keep on top of all your payments so you can quickly act of any failed payments or cancelled mandates. 

5. You're not happy with your current payment mandate
Not all providers offer paperless or digital Direct Debits like we do. Depending on the type of customers you service, you might want to take this into consideration. More than ever customers are demanding online payments, so finally moving away from paper forms or human resource heavy telephone support will save your business time and money too. 

6. You wish for more frequent payment runs
Consider how often you want your payments runs when comparing Direct Debit providers and if there are any fees for additional payment dates. Finding a provider that doesn't charge for multiple payment runs can improve your cash flow.

7. You need high transaction limits
Some Direct Debit providers impose transaction limits per customer, so do your due diligence to ensure these limits do not restrict the payments for your type of business. New businesses could have a portion of their funds held back to mitigate any risks from the bureau's point of view. Making sure you know these limits upfront is important to the growth of your business. Depending on what plan you choose we offer transaction limits of up to £5,000 per customer. You can see more about our plans and pricing here.

8. You're using a third party SUN
A Service User Number (or SUN) is a unique six-digit number which is given to an organisation or ‘Service User’ to take payments by Direct Debit. You might prefer to have your own SUN so your customers know who their payments are coming from. Find out more about what a SUN is here. 

9. You're not happy with the level of security and accreditation
For peace of mind for you and your customers, make sure your Direct Debit provider is FCA regulated and has Bacs Approve Bureau accreditations. At Access PaySuite, we pride ourselves on our high levels of service, data security and value we offer, ensuring that our customers have the peace of mind that they will be compliant and their data and payments are fully protected. You can learn more about our accreditations here. 

Let's face it, automation is here to stay – and it’s guaranteed to make life a whole lot easier for your payment team and for your customer base when Direct Debit processing occurs. If you’re looking for a fast, smooth and stress-free process, then you need to have the right payment processing software in place to deal with Direct Debits – both for recurring payments and for one-offs.

How easy is it to switch Direct Debit provider? 

If you’ve got an existing bank of customers and you plan to make a bulk change then the good news is that it’s a simple process – just three steps in fact.  

1. Tell your existing customers in writing that you’re switching to another Direct Debit provider – they don’t need to do anything, you just need to make them aware. 

2. Work with your new provider to transfer your Direct Debit mandates across including Service User Numbers (SUN). 

3. Update the SUN field in your payment processing platform with the new provider details. 

And if you’re starting from scratch and offering Direct Debit payment as a new option for your customers, it pays to do your homework before deciding which provider to go with. They are not all the same and some will offer a better fit for your business needs than others. If you want to make an informed decision you can compare the UK's Direct Debit providers here.